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MCX Silver May: Resistance At Higher Range

16 Apr 2018 10:50 am
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Report for Date: 16/04/2018


MCX Silver
May: Resistance At Higher Range

MCX Silver (Price figures below are in Rs/INR per Kg)



The Bollinger Band and Lower Band are placed at 39458 and 38128.

Resistance will be at 39121-39591.

Lower range can be 38651-38181.

Volatility between Bollinger Upper and Lower Band is likely to be seen.

Higher range of 39121-39591 can be used to exit long and take profits.


TREND INFORMATION WITH INTRA-DAY LEVELS

CLOSE DRV TREND* Trend Price Trend Date L1 L2 CP L3 L4
38927.00 38793.48 UP 38927.00 13.04 38181 38651 38846 39121 39591

*Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV.

PRICE, VOLUME AND OPEN INTEREST STRATEGY

Last Close Price G/L% Volume V -G/L% Open Interest OI -G/L % Candle Position
38927.0 0.7 384090 -18.4 16488 -3.9 Indecisive Unwinding

TECHINCAL INDICATORS TABLE

RSI 1-ROC-RSI Stochastic 1-ROC- Stochastic MACD 1-ROC MACD RS 1-ROC RS
53.41 6.72 61.45 -10.55 -7.93 76.05 60.28 17.83








Note: UP Green= Shows Up Trend as Close > DRV (Pink Line), DN Red= Shows Down Trend as Close < DRV(Pink Line), Red Color Bar= Down Trend + Bandwidth Is Rising, Green Color Bars= Up Trend + Bandwidth Is Rising, Blue Color Bars= Sideways(Trend could be up or down + Bandwidth is falling), Pink Color line= DRV, V marked= Increase in Volume in relation to last few days. Trend will remain Down as long as last close is below the pink color DRV. Trend will be Up as long as Price is above DRV. Bandwidth Indicator= Helps to determine directional speed in the direction of the trend. Falling Bandwidth would indicates loss of momentum being witnessed or likely to be witnessed. Sideways movement may emerge or upside or downside could be locked until Bandwidth does not turn up. Rising Bandwidth can bring about directional momentum.


Disclaimer: There is risk of loss in trading in derivatives and the report is not to be construed as investment advice. The information provided in this report is intended solely for informative purposes. The author, directors and other employees of CC Commodity Info Services cannot be held responsible for the accuracy of the information presented herein or for the results of the positions taken based on the opinions expressed above.

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